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. japanese have woken up to something old and something new. the liberal democrats have ruled japan for decades. they spent the past three years in opposition. the lbp have won a strong mandate in the election for loretta house. the liberal democrats have long worked together with their partners in new komeito. they won 294 new seats, the new komeito, 31. together it gives them a two-thirds majority of the 300 ldps. prime minister of japan took back the leadership. all those seats will allow the ldp to push through their policies. even if the upper house rejects a bill, a vote by two-thirds of the lower house lawmakers can override that decision. the election ends three years in power for the democrats. the dpj had 230 seats coming into the vote. they held on to just 57. the restoration party won just 54 seats. they want to earn an alternative to the established parties. they are anxious to get back to the role they've held almost continuously since the 1950s. they talk about the ldp's policy plans and what this victory means. >> translator: it's not that voters are coming back to p
>>> ready to lead. shinzo abe starts mapping out japan's future a day after his liberal democratic party had a landslide election victory. i'm keikichi hanada. hello and welcome to nhk "newsline." >>> the people in japan are getting used to a new political reality. the liberal democrats are coming back to power after trouncing the democratic party in a lower house election. the man who was once prime minister, shinzo abe, is set to take his old job back. >> translator: our party's victory doesn't mean voters are putting 100% trust back in the ldp. people wanted to end three-year political confusion and stagnation brought about by the democrats. our mission is to tackle the critical situation japan faces. we need to speed up the reconstruction from last year's disaster. on the economy, we have to beat deflation, curb the strong yen and create jobs. on diplomacy and national security, we will rebuild the japan/u.s. alliance and then improve relations with other countries and protect our land and waters. >> abe and the liberal democrats spent three years in opposition as the democrati
. >> japan's prime minister wastes no time on calling on the bank of japan to recognize support after a land slide win returning the dlp to power. >>> get a little, give a little, house speaker john boehner may be willing to raise taxes on the wealthy if president obama allows entitlement cuts in return. >>> and corporate news weighs on sentiment across europe. kpn shares fall after dividend and greco stocks plunges as analysts cut their outlook for the uk power group. >> okay. welcome. it's the start of a brand new week here on "worldwide exchange." and don't adjust your set, kelly and i are together. >> for once, for a day. >> but make the most of it because it won't be lasting. >> if only there were a slo-mo. >> i'm going to enjoy as much as i can of today. >> and likewise. and then we're going to have to get all of our u.s. voouers to find cnbc world because they could get three hours of you, carol and carolin for the rest of the week. >> whatever they can do. record it and fast forward to the good bits. >> yeah. >> it will be 2:00, 3:00 in the morning or whatever. >>> on today's show, p
and our resources with them. and it is just like japan, for what they have done. if you read the papers recently, you know, that japan suffered a very harsh earthquake and tsunami a while back. and they could have easily said, that we are victims of a national disaster. but, when the country heard that the debris was crossing international lines, all the way to the west coast, and they did not claim victim. they also said, we could help. and that is why we heard the news of japan donating $5 million to help the west coast also deal with the debris. that is a wonderful, wonderful gesture of humanitarian work. and so it is my honor tonight, that i stand here with council general inamata welcoming him and the symbol of his country and knowing the origins of the origami and knowing that we have his blessing and his country's blessing, and working with us to make the world better. and create more peace to create tolerance and acceptance for everyone and that this will always improve the quality of life for everyone on this planet. and so, it is with that, that i welcome mr. inamata and the c
seconds, here is what else we've got for you, an in japan, again, a landslide win, so, what's the new prime minister going to do about the world's worst debt problem? print more money and stimulate more, too. build more infrastructure. will that work? we have our own resident japan expert. question, is jeff immelt's cozy relationship with the president costing general electric shareholders money? we will be discussing it. and i lost on friday when i questioned "the washington po " post's" claim that the senate would be better with more women. i'm not done debating that. more coming up on this program today. and we want to hear from you as well. send your e-mails to varney@foxbusiness.com and we read them on the air. and we read all of them, by the way. i've got news, clearwire selling itself to sprint for $2.97 a share and sprint raised its offer by 7 cents. some clearwire shareholders wanted and expected more. that stock is down. sprint is up, it's getting what people consider a good deal, at least that's what the market is saying. it's up what, 4 cents, not much. aig selling the re
says the shift to the right in japan is a worrying development. >> we think the much more pressing issues that japan must show sincerity. we need to improve relations between the two countries. >> the first full news conference, he was sticking firmly to the same hard line on these countries all the way to japan. >> but the islands are inherently japan's territory. we own and control them under international law. there is no room for negotiation on this point. >> they also address the record low turnout at the election which she put down to a decision and others blame and voter apathy. especially among the younger generation facing a return to the party that has dominated politics for 50 years. their parents grew up knowing no other government. they are facing rule under the same period for the young in japan, it is a return to the old normal. >> the politicians are always doing something up there. they are not really listening to ross. >> it is becoming like the elections are just for old people. >> the list of the number prime minister's get longer and naming them is becoming a b
to power after winning a landslide victory in their parliamentary election. they had ruled japan for 50 years before they were expelled. their forecast to win two- thirds of seats in parliament. >> as the results come in, japanese politics are shifting to the right, bringing this man, a former prime minister, back into the spotlight. expected to become his country's eighth prime minister in five years, the conservative party is predicted to take two- thirds of the seats in the lower house. >> we came back to the party. also, i am at a point of the old party with a tradition. >> for many voters across the japan, it was the state of the economy that influenced them. >> restoring the economy is the most important issue. the ldp can be trusted to do that. >> this woman also voted ldp. this country must -- >> this country must stand up for itself and be strong. >> this election is a dramatic defeat for the prime minister, who announced his resignation with his democratic party of japan likely to lose two-thirds of their seats. emerging as a major force in national politics, the outspoken nat
and the earthquake and tsunami in japan and last year, and during hurricane katrina we tributed one mill object pounds of food aid. [ applause ] >> and all of that is coming from the lgbt and friends community. so we work as ambassadors for our community and we help change people's minds and hearts about who we are and what we care about. besides providing humanitarian aid, we try to inspire hope in all of our projects and we have found that hope is really just as important as aid, if not more so. and we have worked with a lot of communities in desperate situations arounded world and we found that providing a little bit of humanitarian aid and a lot of courage and hope it is amazing that people in desperate circumstances can do to improve theirs life. so seven years ago we really have a feeling that in the united states, we really need to increase our hope also. and we decided to do that by creating a global art project, the world, tree of hope. and what you see behind you is a live, 23-foot christmas tree and it is covered with 10,000 pieces of oragami and most of it is white cranes and all of
between the kurds centers on land and oil rights. now to japan where the prime minister designate is taking a tough line after his victory at the polls saying there can be no compromise over the island is at the center of dispute with china. china has reacted with alarm. beijing declared itself "ready to work with japan" and they expressed disquiet. >> the former prime minister vowed to put the japanese economy back on track after years of deflation made worse by a soaring currency that has squeezed japanese exporters. >> a landslide victory for the conservative ldp party. voters are putting their trust in his promise to get the economy back on track. >> the mission we have been given is to beat inflation and deal with the high yen and wall dealing with the economy and working to create more jobs. >> many voters were critical over the handling of the devastating earthquake, tsunami, and nuclear disaster. they say it was last eight support rather than a rejection of the outgoing premier. >> politics is all about the results. we have to take responsibility. the cause of this major d
at this headline. a land without guns. how japan has virtually eliminated shootings. in part by forbidding almost all forms of firearm ownership japan has as few as two gun-related homicides a year. i understand -- oh, we can't do that here! >> there are too many guns out to there to confiscate. >> stephanie: a friend of mine said bad people are always going to get -- [ buzzer ] where are the guns in japan? >> every country has bad people. every country has sociopaths. every country has people that want to kill other people. >> stephanie: the president's right. we can't tolerate we have more freedom. really? this is the price of freedom? how many zillion times more than the next country? >> kids get killed in elementary school? >> stephanie: in first grade. >> gun people have their rights so that kids can have their rights and lives taken away. >> stephanie: i'm just saying -- i'm not saying we're going to ban all guns like japan but do you think there's some connection that there's two deaths a year in japan from guns.
to the rest of the world, if you look at germany, uk, japan, france, all of whom have very strong gun regulations, we have more gun deaths in one week than they have in an entire year, and the incidents -- the number of times in which guns inside a home are used for self-defense are exceedingly small, on the order of maybe 1 in 15, 1 in 20 as compared to the number of times when a gun is used either for suicide or a homicide. anybody that looks at the data here is quite clear that on the whole, particularly things like assault weapons, create far, far more kor nage in th carnage in this country than they prevent. to a large extent the reason why i think progressives have not been able to mount an effective campaign for sensible gun laws, it's been a failure of the progressive movement, and i think that will now change with progressives. they must realize they have to make this an election issue. all of the polls show that the public is widely in favor of sensible gun regulations. i will point out what i said on friday. president clinton after columbine when we were meeting in the oval
right now. with japan coming through with the more liberal, you know, monetary easing, sort of scenario, it may be really good for gold. liz: let's get the gold chart up. we are a full $10 above. if it goes down just a bit more, you may see the real buyers come in here. >> i think buyers will come in here. as we get closer, i think that 1700 level becomes a support level. liz: eisele, terry terry get pretty bad when gold was falling. >> it has. liz: manufacturers are trying to come back here. hedge funds down 25%. commercial short and down by 30%. that is according to the cftc. >> i think if you have watched over the past three or four months, the trading right has been really, really tight. the only time we had a big move was what we had geopolitical tensions with iran. i think oil is in a sweet spot where the countries are getting enough money for their oil. manufacturing in america should be making a comeback. liz: you want to split my mcrib? [ laughter ] >> it has been a while. liz: off now more than a full percentage point. >> it is a classic performer. whether it is plus or minus,
competition. once in china and japan and all these countries start making stuff cheaper, it is problem for unions, and that is just a reality. >> it is also reality that some of that manufacturing is coming back, and not because of low wages. because of transportation costs, innovation, all kinds of things. what bothers me about this vote is that it was bought and paid for by a few wealthy people. the leader of the senate, the governor, both on record not want to do this initially . they did it turn around. and lost five seats and the legislature. >> you can look for all the conspiracy's you want. the fact is that michigan was adjusting to exactly the reality that evan is talking about, globalization. i think was glory days for the unions 94 is, 1950's, 1960's, when the rest of the world was devastated by the second world war, we had a monopoly and, yes, great benefits to it the problem is that when you have global competition, you are uncompetitive. detroit went bankrupt but the southern transplants did not. here is the tragic choice. in the right to work states, wages are 10% lower.
species from japan and china and bamboo and native plants. >> they're trimmed to a human scale so you relate to them on a human level. >> this is one of my favorite sections and you can see the goarnlrous maples by the bamboo back drop and especially beautiful in the fall when the leaves start changing colors. just around the corner from maple lane this little garden is called a zen garden, a dry landscape garden and constructed here in 1953. this was originally designed by zen monks for the ground. their main purpose was to create a trairchg tranquil setting for the monks. this is no ordinary bridge. it's made of redwood, oak and cedar. the high arch style makes it easy to pass under. the newly refurbished tea house is in the center of the gard scpen a great place to eat and chill as you take in the view of the garden. if you wish you can experience the rich cultural tradition that celebrates the preparation of green tea or matcha and your host dressed in the ceremony will demonstrate how to clean the utensils and receive and drink tea with ancient japanese customs. the art of
and japan and germany and basically assure the renewable energy community there is a guaranteed off taker and price paid for electricity generated from a renewable energy project. it's normally 10 or 20 years and set higher than the going rate for gas or electricity generation so it provides a sole developer to say i have this contract for this off taker whether the caa or whoever toy bathe power and. >> >> and guaranteed to buy it from me and i can go to the bank i have this stream of income if you give me a loan. >> please continue. >> thanks, so one of the areas -- also that is applicable to efficiency is addressing barriers for 10 -- tenants and may be are tenants in their spaces and critical to reduce this for efficiency and new due to incentives or they don't have access to physical resources like their roof so expanding energy to renewable energy is one opportunity that would help the renewable energy space. right now all ratepayers pay into -- for example the state fund that goes towards the solar incentive but across the state only a quarter of houses can take advantage of on the
and protest the fact they wanted to have a nuclear power plant sitting next to an earthquake fault. in japan i think the conversation around nuclear power is shifting again and there are challenges to it and this is not new. this conversation has been around forever and that is pg&e and nuclear power and all of that and here we are in 2012 still having the conversation, so i mean i wouldn't under estimate again the type of opposition, however subtle or not, that this program is going to have to conwith. that's why it's critical how we accurately inform people in the city around the value of this program. >> thank you commissioner olague. president carter also wore a button down sweater when he made that statement. >> did he? >> it's important to note that ronald regan removed those solar panels from the white house. i am unclear on the agenda and on ours it doesn't mention any possible action item, but on the document for the public utilities commission it does and i think we want to make sure we're either today or the next puc meeting but i hope that's the plan, the framework of the pla
, and says he plans then to face election in his own right in 2014 for a full six-year term. voters in japan have chosen a new prime minister, shinzo abe. he led the liberal democratic party back to power on sunday, in a landslide victory. abe has pledged to ease monetary policy to pull japan out of its fourth recession since 2000. he also vowed to take a firm stance on territorial disputes with china. abe served as prime minister once before, but he quit in 2007, citing ill health. opponents of egyptian president mohammed morsi are sounding the call for nationwide protests again tomorrow against a constitution drafted by islamists. the opposition was bolstered after saturday's first round of voting on the document. only about a third of eligible voters turned out, as 57% approved the draft-- a much lower level of support than predicted. the second round of voting is saturday. those are some of the day's major stories. now, back to judy. >> woodruff: and we pick up now on some of the major questions being asked about guns, mental health and other issues in the aftermath of the shootings. we
and spending cuts over the next decade. >>> the nikkei 225 index in japan is trading higher today. the win will most likely result in a loosening of japan's monetary policy. >>> despite upbeat on the economic data, markets ended lower last week. it's all about the fiscal cliff, right? could washington be making strides? yesterday, a source familiar with the talks told cnn that house speaker john boehner is willing to extend the debt limit for a year. the ceiling stands at $16.4 trillion. raising it further, requires an acted of congress, something the republicans have opposed since gaining the house in 2010. that news came a day after a source said boehner had suggested higher taxes on americans with annual incomes over $1 million. higher than what the president wants. president wants higher taxes on everybody over $250,000. >> thank you very much. >>> and coming up, much more live from newtown, connecticut, where the nation looked to president obama for comfort last night. and where detectives continue to look for answers today. [ woman ] dear cat, your hair mixes with pollen and dust. i
is going to be, fiscal cliff going into the end of the year, we'll start to focus on europe and japan printing money over there. we'll get back into the macroeconomic horizons and see how it goes. but yeah. i think there's been some outflows in certain sectors, risk is on here. >> all right. bill nichols how are you playing this waiting game right now? >> i think one of the real interesting sectors one of the guests mentioned is the action in financials. you look at bank america and you haven't seen any real participation in the financial sector for four or five years. that's one to keep an eye on. you may see a meaningful move. that could be good for the market. >> you don't think it's too late -- >> -- next year in terms of a tax increase. >> bank of america is the best performing this year. it's not too late to get into that? you think there's more to come? >> look at the short-term move and it looks good. look at a five or six year chart and it's a different story. looks like you've got more room on the upside. >> rick santelli, jump in here. what are you seeing in chicago the mov
modest growth led by rising demand for housing. >> and an election in japan leads to a jump in stock marketing there. we go to ashley morrison of cbsmoneywatch.com who joins us now. good morning. >> reporter: good morning. well, an election win by japan's liberal democratic party boosted japanese markets this morning. tokyo's nikkei added about 1% while hong kong's hang seng lost half a percent. >>> on wall street friday stocks fell as investors wait on a budget deal out of washington. the dow dropped 35 points while the nasdaq lost 20. >>> there is some movement in the negotiations to avoid the so-called "fiscal cliff." white house and congressional aides worked through the weekend after house speaker john boehner offered a new proposal to the president on friday. the proposal includes an increase in taxes on people making more than $1 million a year and in exchange he is asking for one trillion dollars in spending cuts. >>> and diet pepsi is getting a huge makeover next month but the company is already making changes. they have added a new sweetener. diet pepsi contains aspartame w
, that sand or land fill, acts like water. this is sand, sand and water coming up through a hole. in japan, all these buildings were built on liquefaction. i forget what year this was, but it was one of the bigger earthquakes. 7 story buildings built on liquefaction. the amount of time the earth shook, the earth became liquid and as it became liquid, the building sank into it until it stopped. when it stopped it just fell over. light damage buildings, superficial damage, broken windows, some plaster that might be cracked but basically a light damage building would be one that has mostly damage to the contents. shelves falling over, windows broken, that type of thing. if you had to go into a light damaged building, you would use these procedures. of course you gather information about a building before you go into it, as much information, who lives there, that type of thing. shut off any utilities needed, locate and triage any injured patients, document and communicate the location of any trapped or missing persons. it could be an invalid. in fact, most of the injuries apld most of the deat
movie. ashley morrison in new york. good morning to you. >> good morning to you. >> it boosted japan's market. tokyo's nikkei add 1% while hong congress's hang seng lost half a percent. wall street continues its weight for a fiscal cliff deal. last week. >>> united and continental airlines moved a step closer to finalizing their merger over the weekend. united's pilots union agreed to a new contract that will also cover pilots coming from continental. the deal includes raises and bigger retirement contributions and it allows united to expand its use of larger regional jets. >>> diet pepsi is getting a huge makeover next month, but they've already made new changes. they've added a new sweetener. diet pepsi uses aspartame, which breaks down in the heat. they're mixing it with a new sweetener that helps it stay sweeter longer. the new mix hit the shelves in some areas earlier this month. >>> and in the box office, a record-setting record for "the hobbit." the fantasy flick took in almost $85 million. that's better than the three previous "lord of the ring" films and gives "the hobbit" t
be a smoother transition. >> tom: there is a third party in this deal. and this is softbank of japan. sprint has agreed to sell 70% of itself to that japanese bank. what role did that play in this clearwire deal. >> well, one of the analysts summed it up best. he said softbank walked into this thing and said hey, listen, we know that if you had the capital before you would have gone and gotten clearwire. now we provide that. they see this as a big pickup. and they also see it as a first ingredient to turning this company around a little bit, to put them on track to compete more with t-mobile and of course the big guys like at&t and verizon. >> tom: to that point we have to talk about sprint shareholders then. what does this clearwire deal do to the outlook of sprint stock tonight, about 5.5 dollars per share? >> well, it depends who you talk to. the analysts in general seem to say well, it's going to be positive for the stock because now they don't have the overhang of well wa, are they going to do with clearwire. but they also have to look in the longer term what is this fourth quarter going to
. land slide victory for the conservatives in japan. you know what the conservatives stand for? unlimited easing stimulus. the new prime minister is back in again. increase defend spending. increase infrastructure spending in japan. that's why the asian markets were up overall. did you see what was going on in shanghai index? up another 0 .5%. finally, did you see the airline stocks? nice upgrade at a couple of the firms there, upgrading the airline indexes, moving the last several weeks on better news overall. minimal impact from hurricane sandy. so they upgraded the airline stocks today. the coal stocks up, too, on talk over in barron's that coal would be in much higher demand over in china. guys, back to you. >> thank you, bob. >> let's go over to the bonds and dollars. how are you? >> good morning, jim. well, interest rates, once again, have trickled a bit higher. if you look at it in the context where we've been, basically held the bottom of the range. the pivot, 1.60. we talked quite a bit about how 160 was an important level. we have built on that as we've distanced ourselves, a do
armed with one shot could have saved dozens of children. >> how about japan? probably the safest country in the world. we don't need them. >> reporter: three days aft second worst school -- after the second worst school shooting in american history, the debate of gun control rages on the sidewalk right juice side the offices of -- right outside the offices of the largest gun control office in the country. >> i can't believe more guns and guns for everyone is a solution. >> we'll be back. we'll be back. >> it's just unacceptable when you see these faces. shame on all of us if we're not doing something about it. >> i would give all my money to bring one of those kids back. >> reporter: the nra has been very quiet ever since friday's shooting and they stayed that way today. i asked them several times for an interview. they declined all of my requests and they never once came outside during today's protests. bruce? >> i'll take it back for bruce. >>> our team coverage continues with scott broom. he joins us live from frederick, maryland where gun stores have been busy following friday's mass
unlikely. do we have 15 times more violent tv or video games? no. japan has lots of violent video games, and they actually have astonishingly low gun violence. the big difference is that we have these incredibly loose gun laws that make access to the kind of weapons you just showed, suzanne, very easy. the idea that people -- that anyone other than law enforcement official should have that kind of weaponry, semi-automatic weaponry, assault rifles, is regarded by most of the world as crazy. in australia, the conservative government -- by the way, this is usually a conservative issue -- cracked down on easy access to guns and saw a 59% drop in gun homicide over the -- >> fareed, why do you suppose this is a political and a partisan issue in this country as opposed to other countries that don't seem to have that division over this issue? >> some of it does come from a tradition of gun ownership from a suspicion. the original reason for the second amendment was concerns that the british government were trying to stop americans from having arms. some of it is certainly that. but, look, place
here, guys, on, of course, the dollar/yen. japan did have when aer being called transformative actions weekend. it still remains toes be seen whether shinzo abe is going to be the next prime minister. can it help spur the company back towards growth? remember, with currencies, it's all relative and there are a lot of other players around the world who are trying to weaken theirs, as well. so it could be an uphill climb or maybe i should say a downhill one. >> kelly, thanks. coming up, we're going to debate where the economy is headed in 2013 and how much the fiscal cliff matters to growth. we have a special edition of squawk at 8:00 a.m. eastern time. remember that first interview we had with tepper a few years ago that made so much news. we'll have another rare interview with david tepper. it was 2010 and he sparked what became known as the tepper rally. it was really the squawk rally, but he tried to hijack that. what does he expect from the markets now? "squawk box" will return in just a moment. rivalry. rivalry. 'cause all our states are great. and now is when the gulf gets even be
china closed with half a percent gain. japan's nikkei finished up 1% after weekend elections there spurred optimism about policy reforms. but rest of asia posted declines over concerns over the fiscal cliff here in the u.s.. >>> speaking of the u.s.. right now futures indate a slightly mixed opening with a higher opening for the dow and s & p but the nasdaq may drop a little bit. right now the european markets most are trading lower as well. >>> time now 5:20. the first public appearance for the duchess of cambridge since being treated for morning sickness. we have video of her first night out. also we'll take a look at the nurse who took her life after a radio station hoax involving the duchess. we'll tell you how she is being remembered. >>> we'll tell you why some parents are threatening to sue over yoga classes in schools. >>> you can wake up with ktvu every morning. get the mornings top stories that develop while you were sleeping sent straight to your cell phone every weekday morning 6:00 a.m.. get your ktvu wake up call by texting the word wakeup to 70123. w >>> welcom
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and so i -- election.'s the u.s.-japan airlines serves as a cornerstone of peace and prosperity in the asia-pacific and look forward to working closely with the new japanese prime minister, cabinet, and the people of japan for bilateral, regional, and global issues. i would also like to say the president appreciates prime minister nota's contributions to u.s.-japan relations on a number of issues and would like to thank the prime minister for his service and wish him well in his future endeavors. as you know, the new prime minister does not take office -- and i did not want to get ahead of that, before we start talking about potential meetings or policy discussions with him. >> you made the point about -- that that was not the day to talk about policy, talking about gun control. but we are looking for more specifics especially since the president said quite plainly he would use all the powers of the office to engage americans on the issue. senator lieberman suggested a national commission on violence. would the president consider setting up a presidential task force? >> what i t
. in japan, they had a big election. a lot of people have been hot on that. there is a look at the dow. drug and bank stocks doing well. back to you guys. connell: we will talk to you about the latest developments in the debt to go stations. john boehner with a new offer on the table for the president. essentially, a billionaires tax. the speaker laying down a trillion dollars in new tax revenue with that offer. only in return with spending cuts from the president. time to make a deal, do you figure? >> yes. i actually think the horrible tragedy in connecticut will contribute to making a deal. one thing that gets politicians out of politics is that human beings are what they are supposed to be about. i do believe that speaker boehner and president obama will be looking much more at the big picture in america. connell: i kind of debated in my own head whether to bring that up in the interview. it is funny that you brought it up right away. a lot of us have been so consumed by this or affected by this terrible tragedy in connecticut. we were already tired of these physical -- fiscal cliff talk
. denmark tops the list. canada at 9. u.s. at 8. france at 7 and japan a measly 4. look at the top tax rates in these countries. americans pay 41.7% when you factor in federal, state and local taxes. dans are happy but pay more, 48%. why? in part because their taxes get them free health care and post secondary education. so, perhaps a more constructive conversation should center on how much we expect to benefit from government services, and how much we're willing to pay for those services. now, the negotiation between speaker boehner and president obama have given us a new term over which to obsess, chain cpi. it would change the way the federal government calculates inflation and those benefits that are tied to it. normally every year both wages and prices go up. the consumer price index or cpi measures how much prices go up by tracking a basket of goods that americans typically buy. this is used to calculate cost of living adjustments on social security. checks pay a little more each year as prices for what we need go up. one potential flaw in the system is that cpi assumes people don't ch
-- their wedding gift from japan. they brought this and hung it here. just about everywhere you go, you are seeing these makeshift memorials. >> angels line one roadway in remembrance of each victim. along the highway, flags fly in their honor. there signs of support everywhere. this kwaquaint town symbolizes nightmare. for the local paper, before last friday the big recent headline was a vandalized cemetery. now thrust into a worldwide spotlight, the normally quiet main street is packed with media and outsiders. that's why kevin tried to do something away from the crowds in town. he hung a huge flag. >> my son served in afghan stwhan we came home. we had one of the flags. we have the means to fly it at certain occasions for my son. >> under this flag, a makeshift memorial grew. >> we came here around 11:00 and set the flag up for the people of newtown. people started dropping off teddy bears and gives and flowers for the families. donations for the funerals. we have been dropping the money off to the church. it keeps growing. >> at the nearby blue colony diner, black mourning ribbons are hung aro
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